The SEC is celebrating a regulatory revolution as landmark crypto legislation races toward final approval, promising sweeping clarity, innovation momentum, and stablecoin dominance for U.S. markets.
SEC Hails Regulatory Breakthrough With GENIUS Act Awaiting Trump’s Sign-off
U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins released a statement on July 17 following the passage of three cryptocurrency bills by the House of Representatives, describing the legislative movement as a pivotal step in reshaping digital finance regulation and supporting stablecoin integration.
Atkins applauded the House for advancing the GENIUS Act alongside two other bills, crediting Senate Banking Committee Chairman Tim Scott, House Financial Services Committee Chairman French Hill, Senator Cynthia Lummis, and Senator Bill Hagerty for their leadership. He framed the GENIUS Act as a “historic milestone” for crypto entrepreneurs and U.S. financial markets. The act now proceeds to President Trump for final approval. One of the bill’s key goals is to provide legal clarity for payment stablecoins—a step Atkins views as essential to market progress.
In his statement, Atkins stressed the transformative potential of blockchain:
Blockchain and crypto asset technologies have the potential to revolutionize America’s financial infrastructure and deliver new efficiencies, cost reductions, transparency, and risk mitigation for the benefit of all Americans.
The SEC chairman highlighted that this legislation offers the kind of regulatory certainty developers need to safely innovate, noting:
Over the coming months and years, I look forward to watching the market leverage the regulatory framework provided by the GENIUS Act to go to market with payment stablecoins solutions that make transactions quicker, cheaper, and safer—all while maintaining robust risk safeguards.
Supporters argue the new framework balances innovation with risk management, potentially anchoring the U.S. as a leader in crypto development. Although some critics remain cautious about potential instability in digital asset markets, proponents see structured oversight as a crucial enabler of responsible financial technology growth.
